GM Advisory Group LLC Has $30.32 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

GM Advisory Group LLC cut its position in NVIDIA Co. (NASDAQ:NVDA) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 249,637 shares of the computer hardware maker’s stock after selling 5,594 shares during the period. NVIDIA comprises about 1.8% of GM Advisory Group LLC’s portfolio, making the stock its 16th largest position. GM Advisory Group LLC’s holdings in NVIDIA were worth $30,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. Legal & General Group Plc raised its holdings in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NVDA shares. Wells Fargo & Company raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Wedbush raised their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, DA Davidson raised their target price on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.63.

Insider Activity

In related news, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $140.11 on Thursday. The company has a 50-day simple moving average of $139.74 and a two-hundred day simple moving average of $128.46. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.14, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $51.69 and a twelve month high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 EPS. Analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.